ThyssenKrupp does not expect swift consolidation of European steel market
ThyssenKrupp, a German steel group, does not believe the European steel market will consolidate swiftly, Boersen-Zeitung reported. In answer to recent rumours that ThyssenKrupp is considering a merger with Indian rival Tata Steel, Hiesinger told the German language newspaper that the situation is not as advanced as the public believes. He added in the article that it remains completely unclear if and when there will be a consolidation of the European steel market. The report noted that Salzgitter, a German steel company, and ArcelorMittal, a Luxembourg-based rival, have also been named as potential merger partners for ThyssenKrupp in the recent past.
Hiesinger stressed that he does not believe that one European steel group will take over another, but that the consolidation process will most probably result in a merger that allows ThyssenKrupp to remain invested in the steel industry via a minority stake in the merged entity.
ThyssenKrupp has a market cap of EUR 11.604bn.
Boersen-Zeitung